Bitcoin Funding Rates Spike to Multi-Week Highs as Correction Loads
Bitcoin has undergone a drop since the local highs of $19,000. The coin currently trades for $18,500, though traded as low as $17,500 earlier today. The bounce has surprised many analysts, who thought that Bitcoin would sustain a deeper correction into the $15,000-16,000 range. Yet this bounce has come at a cost: the funding rates […]
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Bitcoin’s new all-time high this month has led to a number of interesting developments in the crypto space. The success of the first Bitcoin ETF contributed greatly to the price of BTC finally bursting through the $67K price point and with it has come to a spike in funding rates in the market. The ProShares ETF saw over $1 billion in trading volume in its first day, signaling increased inflows into the market. The spike in funding rates moved along with the price movements of BTC in the month of October. This spike maintained momentum along with BTC movements. However, as the price....
Bitcoin has been struggling to hold on to the $30,000 level for the better part of this week, failing more often than not. While there have been various reactions from different parts of the market such as the ETFs, perpetual traders seem to have taken this as a sign to hold off on their activities. What this has led to is a continuation of the neutral or below-neutral funding rates that have been recorded in the past couple of weeks. Bitcoin Funding Rates Unmoved For the past few months, bitcoin funding rates have been tethering around the neutral and below neutral levels. This has been....
Bitcoin funding rates had fallen below neutral two weeks ago after finally recovering from a month-long downtrend. This had sparked fears of another bearish trend starting in the market. However, this has quickly changed as the numbers for last week have come in. This time around, the bitcoin funding rates are painting a better picture for the digital asset. Funding Rates Return To Neutral The bitcoin funding rates for the last week have been more optimistic compared to previous weeks. This is because it had continued to maintain its positive at neutral for the whole seven days; there was....
Bitcoin funding rates have remained low even when the price of the digital asset has rebounded. The trend for the previous week showed that investors remained extremely wary of the market, and there has not been a change for the new week either. This coincides with the general market sentiment falling back deep into the fear territory. This report takes a look at where the bitcoin funding rates are currently and what it says about the market. Funding Rates Remain Below Neutral Back at the beginning of August, the bitcoin funding rates had finally recovered to neutral, speaking some hope in....
Prices have been declining across the crypto market and with it has come to a lot of doubt on the part of investors. This is reflected in the deposit and withdrawal trends recorded across the various crypto exchanges. One of these has been the funding rates which had remained flat for the better part of the first half of 2022. However, there has now been some movement in the funding rates and it is unfortunately not for the better. Funding Rates Turn Negative Two leading crypto exchanges have seen negative crypto funding rates for the past week. Binance and ByBit consistently appear on the....